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GBP/JPY for QQE Traders!

  • #1,661
  • Feb 19, 2008 1:37am Feb 19, 2008 1:37am
Quoting kujo17
If it goes back up and closes above the 210.56 Weekly Pivot, I think we'd be hard pressed to get to 209.5 yes.

But, if we get another 1H close below S1 and a close below the last LL, we're good to go south.

I'm awaiting this next 1H bar to close to decide.
Kujo, isnīt this a setup for a long according to your rules?
  • #1,662
  • Feb 19, 2008 1:49am Feb 19, 2008 1:49am
Quoting judith
Kujo, isnīt this a setup for a long according to your rules?
Technically, if you go by the rules yes.

BUT, this upswing is headed up to two strong S/R levels, so in that case, no.
Also, I know this is the slow move down on a large retrace, hence me not going long, scalping longs, as I'm short from 213, 212 and 211.8/211.17.

If I have open trades, I won't scalp.

The cross over/qqe/stoch strat is more a scalping strat.

And one doesn't really want to scalp into strong S/R areas, unless those are your TPs.

Rules are made to be broken at times and they're really Guidelines, more than rules.

My style or 'rules' has been evolving, as I don't scalp much at all and I'm more a longer TF trader lately.

BUT, in a rangey market, I'll scalp out 80-100 pips, out of boredom. ;-)
  • #1,663
  • Feb 19, 2008 3:28am Feb 19, 2008 3:28am
Hey Kujo, nice call buddy, followed it (after checking my setup as well) and made a nice wee profit...
  • #1,664
  • Feb 19, 2008 3:30am Feb 19, 2008 3:30am
Big ups to Kujo I know you were not trusted. That was great kujo keep it up
All the best things in life are free.
  • #1,665
  • Feb 19, 2008 3:41am Feb 19, 2008 3:41am
I'm Sorry for the question but Kujo, where i can find the rules of your strategy?
  • #1,666
  • Feb 19, 2008 3:44am Feb 19, 2008 3:44am
209.50 HIT.

213
212
211.80
211.70

209.36 is strong S/R........ Lets head on up to 217 boys and girls !

Triple swap Weds.......

Lets GOOOOOOO !!
  • #1,667
  • Feb 19, 2008 3:46am Feb 19, 2008 3:46am
Quoting venci
I'm Sorry for the question but Kujo, where i can find the rules of your strategy?
first page of this thread has a bunch of links.

But, what's not in the strategy is my use of Fibs and using them to call TPs.
That's just a part of my strategy that's evolved into my own style, I guess.

I post alot of charts in this thread.

Follow it and you can see what I see.... and then use the parts of my style that suit you.

kj
  • #1,668
  • Feb 19, 2008 3:51am Feb 19, 2008 3:51am
Current price is 209.41 (hit low of 209.32 and making session lows)

So how much more can the bears move ? Well I see that the bears have now come to the first bull resistance zone of 209.36 - 209.70. The second and stronger bull resistance is further down at 208.50 - 209.00.

With first level bull resistance I normally see price pullback up. Hard to tell how much bull pressure will be as the bears have been very strong. Anyway current low of 209.32 is temporary support and can delay more bear shows.
  • #1,669
  • Feb 19, 2008 3:54am Feb 19, 2008 3:54am
Quoting kujo17
209.50 HIT.

213
212
211.80
211.70

209.36 is strong S/R........ Lets head on up to 217 boys and girls !

Triple swap Weds.......

Lets GOOOOOOO !!
You are da man ! The birthday man !!
You are one pip machine.
  • #1,670
  • Feb 19, 2008 4:06am Feb 19, 2008 4:06am
Quoting Sith Lord
You are da man ! The birthday man !!
You are one pip machine.
kujo, those results are impresive!!! are you sure your not judt making things up .... just kidding.
and you say you discovered forex just in november 2007 wow!!!
  • #1,671
  • Feb 19, 2008 4:06am Feb 19, 2008 4:06am
Yup - if I see price go down anywhere between 208.66 to 209.11 I will start loading up for longs. I will wait for a nice QQE5 cross up on the 15M to take me in the trade. Just have to wait and see how strong first bull resistances is.

Quoting kujo17
I think 209.5-209.0 will be our bottom.

But, 209.18 is S3, with a good break of S2 at 209.86 we'll see that probably.
.
  • #1,672
  • Feb 19, 2008 4:13am Feb 19, 2008 4:13am
Quoting judith
kujo, those results are impresive!!! are you sure your not judt making things up .... just kidding.
and you say you discovered forex just in november 2007 wow!!!
I can post account sheets if you like.

Jan 1 2008, I went live with 2 accounts.
One is up over 500% now in 6 weeks.

People that know me, know I only do things one way.... 150% or not at all.
I've spent MANY hours reading, looking at charts, reading 100's of others strategies...... like an addiction.

Took out of it, what worked best for me, to allow me to see where things will go and then ran with it.
  • #1,673
  • Feb 19, 2008 4:16am Feb 19, 2008 4:16am
Quoting Sith Lord
Yup - if I see price go down anywhere between 208.66 to 209.11 I will start loading up for longs. I will wait for a nice QQE5 cross up on the 15M to take me in the trade. Just have to wait and see how strong first bull resistances is.
Yup, NOT rushing into a long just yet.
We could, as you said see 208.8-208.6 area, but this 100.0 fib line at 209.36 from the last move is holding price UP.

QQEs, CCi and Stoch are turning up on the 5.
That's the start......

Just hope the Dow doesn't crash in a few hours to spoil our LONG party.

2:15am...... I am addicted.

But, in 2 more months when I'm only trading off the Daily with my standard accoutn, all these hours will be worth while.
  • #1,674
  • Feb 19, 2008 4:29am Feb 19, 2008 4:29am
The Yen just started to fall .. personaly I don't think that we will go up...
Attached Image (click to enlarge)
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  • #1,675
  • Feb 19, 2008 4:32am Feb 19, 2008 4:32am
Quoting venci
The Yen just started to fall .. personaly I don't think that we will go up...
Probably won't go below 107.25 area though.
It just bounced off the 38.2 fib retracement, from the last fall down.
This drop is a correction to the 23.6 fib, where she'll probably bounce and head up to 109 area with is 50 fib retracement from the last fall.

We'll just have to see.
  • #1,676
  • Feb 19, 2008 4:33am Feb 19, 2008 4:33am
Quoting Nobitacu
Here's a link to Bloomberg where you can check the Dow live. http://www.bloomberg.com/
I constantly refresh this page to see live Dow futures and all the rest:
http://finance.yahoo.com/indices?e=futures
  • #1,677
  • Feb 19, 2008 4:45am Feb 19, 2008 4:45am
Quoting kujo17
209.50 HIT.

213
212
211.80
211.70

209.36 is strong S/R........ Lets head on up to 217 boys and girls !

Triple swap Weds.......

Lets GOOOOOOO !!
First of all ongrats on your vision.
What is the
Triple swap Weds?
Thanks!
  • #1,678
  • Feb 19, 2008 4:46am Feb 19, 2008 4:46am
Quoting marcb
First of all ongrats on your vision.
What is the
Triple swap Weds?
Thanks!
When placing a trade in the spot Forex market, the actual value date is two days forward. A deal done on Thursday is for value Monday. A deal done on Friday is for value Tuesday, and so on. On Wednesday the amount of swap is tripled in order to compensate for the following weekend (during which time swap is not charged because trading is stopped for the weekend).
The only sovereign I can allow to rule me is reason.
  • #1,679
  • Feb 19, 2008 4:48am Feb 19, 2008 4:48am
Quoting kujo17
209.50 HIT.

213
212
211.80
211.70

209.36 is strong S/R........ Lets head on up to 217 boys and girls !

Triple swap Weds.......

Lets GOOOOOOO !!
Couldn't agree with you more.....looks like Market drew their fibs back at 205.86 rather than the 206.77.....the difference between 209.50 and 208.80.....but look at 208.80....here we go
The only sovereign I can allow to rule me is reason.
  • #1,680
  • Feb 19, 2008 4:56am Feb 19, 2008 4:56am
I had 208.8 picked as a target, but wanted to stop out short incase it didn't make it down there.

Seem the 61.8 fib retrace was hit and 208.98 area was strong S/R

This, should hopefully be the turn around for the next 3 waves up to 216.50, the 50 fib retrace from the last large move down.

Onward and upward...... enough of the Neg swap the last few weeks......
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